June 16, 2013

FORD Motor Weekend update

 
  • Ford daily chart shows price in a contracting triangle pattern.
  • Price testing the up trend line and Possible breakdown level is 15.06 - 15.09. 
  • Weekly chart shows price closing above golden ratio. Trading below golden ratio could lead to bigger corrections.
  • S&P 500 WEEKEND UPDATE
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QQQ Weekend update

  • QQQ Weekly chart shows weakness as price falls back into the weekly channel.
  • For next week 20 week SMA could get tested if price falls below 71.47
  • Crucial support in daily chart is 50 Day SMA whcih must be broken for a bigger fall to start. Bulls need to break above the resistance line shown in last chart to avoid correction for now.
  • S&P 500 WEEKEND UPDATE
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